The cordial but often overt rivalry between New York City and Los Angeles can be the stuff of legends. Between the two, there has always been an underlying sense of universal competition, whether it be in baseball, the weather, or general culture.
Still, putting aside rivalry based on culture and other factors, which city offers the best value? We have extensive experience as movers in NYC and LA, therefore we are well-versed in the characteristics that distinguish these two titans of industry.
Average Cost of Living between Los Angeles and New York City?
In general, living expenses in Los Angeles are significantly lower. But hold on!
It is dependent upon several factors. Here are some comparisons to aid with the calculation.
Rent & Real Estate
The expense of housing is high in both LA and NYC. However, they also rely on the area of the city you’re in. as well as if you own or rent.
In general, houses in Los Angeles are more expensive.
In New York City, a typical home costs about 750K. The average price of a home in Los Angeles is 999K.
In the meantime, rent in NYC is often higher.
In NYC, the average monthly rent for a one-bedroom apartment is approximately $3,000, whereas in LA, the same unit typically costs about $1,700.
All large cities are ultimately subject to the law of location, location, location. For instance, a good one-bedroom apartment in the Bronx of New York City can be found for about $1,500, but a comparable property in Beverly Hills, Los Angeles, will cost at least twice as much. And you’ll probably need to be a multimillionaire a few times over if you want to buy a home in Beverly Hills Bel Air or, for that matter, a place with a lovely view of Central Park in New York City.
Cable, Internet & TV
The average monthly cost of TV and cable in Los Angeles is about $70. Additionally, internet costs $40 a month at the most.
TV and cable costs in NYC are comparable, with monthly rates ranging from $45 to $130. On the other hand, internet plans tend to be more expensive, with most starting at $50 to $60 a month.
Food & Groceries
In general, food and groceries in Los Angeles are also less expensive than restaurants.
The U.S. Bureau of Economic Analysis and Numbeo’s cost of living calculator both indicate that the average monthly cost of groceries in New York City is $485 per person. In the meantime, the average Angeleno pays about $375 per month for milk, eggs, and other necessities.
However, there’s no denying that people in both areas have a tendency to be health-conscious, and both New Yorkers and Angelenos are known for being fairly finicky eaters. However, this simply indicates that you have an abundance of culinary choices in both Thai and Mediterranean cuisine, as well as oat and soy milk, and everything in between. Therefore, your specific diet and lifestyle will ultimately determine your total monthly expenses.
Transportation
Los Angeles also prevails in terms of public transit costs.
A monthly pass for public transportation in Los Angeles costs $103. The regular rate is $1.75, and a weekly pass costs $25.
In the meantime, the NYC MTA charges $127 for a monthly MetroCard and $31.75 for a weekly one. The standard ticket is $2.75 as well.
It’s also no secret, though, that getting about NYC without a car is less complicated than getting around LA. Therefore, you may also need to account for petrol prices. Additionally, both cities are notorious for their gridlock. Not only is rush hour a nightmare, but parking is also a hassle. Naturally, traffic in both cities is still pending.
Lifestyle
In terms of dining establishments, drinking establishments, leisure pursuits, etc., LA is also frequently less expensive. not by much, though. It all depends on the kind of lifestyle you lead. For instance, a dinner for two at a budget restaurant in Los Angeles costs about $20. In contrast, it’s typically closer to $30 in New York City. In both cities, the average cost of a drink at a pub is approximately $8, while a glass of wine costs about $12.
However, you can also buy a good, basic NYC bagel for just $1 (toppings extra). And for roughly $1.50, you can have a classic LA food truck taco (Angelenos know where to go). Additionally, there are many alternatives for museums, pubs, nightclubs, gyms, and other amenities in both cities, but they are by no means inexpensive.
Los Angeles offers advantages for a healthy, relaxed lifestyle as well. It enjoys a mild environment all year round and is situated on the water.
But getting about Los Angeles is more difficult. Not everything is as easy as it is in NYC, even something as simple as walking to the grocery store. The same holds true for nightlife, going out, and cultural activities. Although most people in New York prefer to walk everywhere, you can typically get where you’re going with a short bus or subway ride. To get things done in LA, you might need to take a long drive or use an Uber. Your total expenses may be impacted by all of this.
Healthcare
The average monthly premium for a major medical individual health insurance plan in Los Angeles is approximately $480 per person. On average, New Yorkers pay approximately $775 per month for a comparable plan. Therefore, LA offers healthcare at a lower cost overall.
Which City Is More Affordable: Los Angeles or New York City?
New York City and Los Angeles rank among the most costly cities globally and in the United States.
But LA also has an average cost of living that is 24-27% cheaper than NYC’s.
Therefore, even though LA is expensive, everything from rent to dining to transportation to healthcare is more reasonable there.
Common Questions
These are some last common factors to think about, often known as FAQs.
Does LA or NYC have higher taxes?
Right now, California has the highest taxes in the nation. New York has a top marginal income tax rate of 10.9%, but LA has a rate of 12.3%. So, this one goes to NYC.
Are salaries higher in NYC or LA?
NYC also prevails in this one. firms in NYC typically pay 4.7% more than firms in LA, according to salary.com. Naturally, this depends on your career goals—working in technology, entertainment, at a bar, teaching yoga or surfing, etc.
How much do you need to live in NYC or LA?
To sum up, you will need an annual salary of somewhere between 40K and 100K, or at least around $5000 per month, to live comfortably in either megalopolis. That’s after taxes, too. However, these numbers will undoubtedly differ significantly based on your own way of life.
Remaining undecided between relocating to NYC or LA? Maybe these guides will be useful:
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How Much to Save Up & Move to Los Angeles
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All-Inclusive Guide to Relocating to NYC
